Answer:
B. Cash 10,000 Sales 10,000 Cost of Merchandise Sold 7,590 7,590 Merchandise Inventory
Explanation:
The journal entry is shown below:
cash $10,000
To sales $10,000
(being cash receipts is recorded)
Here cash is debited as it increased the assets and credited the sales as it also increased the revenue
cost of merchandize sold $7,590
To merchandize inventory $7,590
(being cost of merchandise sold is recorded)
Here cost is debited as it increased the expense and credited the merchanidse inventory as it decreased the inventory
Generally, a small-business owner follows four steps to develop the pro forma income statement:
Establish a sales projection
Set up a production schedule
Calculate your other expenses
Determine your expected profit
After using your sales projection as a starting point, you calculate the cost of goods sold if you are selling a physical product.
I would also suggest looking at trade organizations and asking other small business owners to help forecast costs.
Answer:<u><em>If the monopolist's marginal revenue is greater than its marginal cost, the monopolist can increase profit by selling more units at a lower price per unit. </em></u>
Explanation:
If the monopolist's marginal revenue is greater than its marginal cost, the monopolist can increase profit by selling more units at a lower price per unit. In the case of higher MR , the maximum profit will come about at the level of where MR is equal to the MC. So in this case to increase the profit, MR i,e, also the price can be lower to the level of MC to sell more commodity and earn higher profits.
Answer:
Therefore, An office is an important part of the organization in which different administrative and clerical functions are performed to achieve the objective of the organization. It has given importance to a functional area of business rather than a specific place. ... The office is the brain of an organization.
Answer:
<u>Allocative efficiency </u>
Explanation:
Marginal benefit refers to the extra satisfaction derived from purchase of an extra unit of a good or a service.
Marginal cost refers to the extra cost incurred when an additional unit of a good or a service is produced.
When marginal cost is equal to the marginal benefit, it is the most efficient situation wherein optimal blend of commodities is produced.
Allocative efficiency refers to producers providing that blend of goods which are most desired by the society at the optimal level of production.
